In Depth

Brazil: Marshall Islands is Offshore Flag of Choice

Since the opening of its Rio de Janeiro office 2012, the Republic of the Marshall Islands (RMI) Registry has firmly established itself as the flag of choice for companies doing business in Brazil.

The shipbuilding industry of South Korea has asked the government to provide substantial support to save local shipbuilders from continuing financial decline. “In order to overcome the current crisis that the local shipbuilding industry faces, the government should immediately initialize action plans including heavy financial support,” Kim Oi-hyun, head of the Korea Offshore and Shipbuilding Association (KOHIPA), told reporters, last week, during a meeting with executives of the industry...

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A top executive at Norway’s Seadrill , the world’s largest rig company by market capitalisation, quit the board on Friday, sending the firm’s shares 4 percent lower. Tor Olav Troeim, who until recently was referred to as the right-hand man of big Seadrill shareholder John Fredriksen, will not seek re-election to the board of Seadrill...

South Korea's 'big three' shipbuilders could see a rebound in offshore vessel orders in 2015, said Samsung Securities in a research note. Samsung Securities' analyst Youngsoo Han said: "Offshore [vessels] are expected to outshine commercial vessels next year due to three positives.
Lion Shipbrokers report in week 38 that M/V "BERGE MCCLINTOCK" (179,515 dwt, blt 2012 Hanjin/S. Korea, AB, 9 HO/9 HA, MAN-B+W 6S70MC-C8) was sold to Greek buyers in the secondhand market (clients of Navios) for USD 52.5 million.
By the beginning of 2016 the port of Antwerp will have an LNG bunkering and filling station for barges. The procedure for construction of the station is currently under way.
Egypt must strip back bureaucracy to attract investment in its planned second Suez canal and bring in new laws making it easier for companies to get licences and land, a legal firm linked to the project said.
Who to believe? The traders and analysts who say China’s new regulations on coal quality is a body blow to Australian exports, or the companies and their association who say the impact will be insignificant.
Valemaxes: the world’s largest bulkers and the most controversial ships in commercial shipping in many years may finally be used as they were intended after a deal between Cosco and Vale last week.
The Atlantic Panamax market was flat on Friday, with owners relying on US Gulf grain exports to raise the Atlantic market, but more cargo is needed to change sentiment, sources said.










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